SIEMENS LTD. Board Approves Rs. 519 Crore Investment for GIS Factory and Metro Train Facility

The Board of Directors (BoD) of SIEMENS LTD. approved the un-audited financial results for the second quarter/half-year ended 31% March, 2024. They also approved an investment of around Rs. 519 crore towards capacity addition at the Gas Insulated Switchgear (GIS) Factory in Goa and the Metro train manufacturing facility in Aurangabad. This expansion will include adding around 22,000 feeders and 1,500 MV GIS panels to the GIS Factory in Goa, and setting up a new greenfield Metro-car assembly set up for Metro Rail systems in the Metro train manufacturing facility in Aurangabad. The investment will be funded through internal accruals. The proposed capacity expansion will be added in a phased manner from FY 2024 to FY 2028 for the Metro train manufacturing facility, and from FY 2025 to FY 2027 for the GIS Factory. The Board Meeting was concluded at 4.10 p.m.